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About Arrow Investments Trust Arrow DWA Country Rotation ETF

DWCR tracks a Dorsey Wright index that selects stocks based on momentum. Beginning with 41 developed and emerging countries, ex-US, the index identifies 10 with the greatest relative strengthmeaning their equity markets have recently seen more price appreciation than others. Once the countries are identified, the index selects up to 10 eligible stocks from each country with the highest relative strength. Firms are equally weighted within each country, and the 10 countries receive equal weight in the portfolio. Each country included in the index must have at least 5 stocks exhibiting a minimum relative strength score, otherwise the country is replaced. As a result, DWCR provides a focus on international momentum stocks. The index is reconstituted and rebalanced on a quarterly basis.